HomeMy WebLinkAbout2003-05-19-Ordinance 2409_Urban Renewal Plan, R-22 AdditionORDINANCE NO.2409
AN ORDINANCE PROVIDING FOR THE DNISION OF TAXES
LEVIED ON TAXABLE PROPERTY IN THE R-22 ADDITION TO
THE WAUKEE URBAN RENEWAL AREA,PURSUANT TO
SECTION 403.19 OF THE CODE OF IOWA
WHEREAS,the City Council previously enacted an ordinance entitled "An
Ordinance Providing For The Division Of Taxes Levied On Taxable Property In The
Waukee Urban Renewal Area of the City of Waukee,Iowa,Pursuant To Section 403.19
of the Code ofIowa";and
WHEREAS,pursuant to such ordinance the Waukee Urban Renewal Area Urban
Renewal Area in the City of Waukee was designated a "tax increment area";and
WHEREAS,the City Council now desires to increase the size of the "tax
increment area"by adding additional property;
BE IT ENACTED by the Council of the City of Waukee,Iowa:
Section 1.Purpose.The purpose of this ordinance is to provide for the
division of taxes levied on the taxable property in the R-22 Addition to the Waukee
Urban Renewal Area of the City of Waukee,Iowa,each year by and for the benefit of the
state,city,county,school districts OT other taxing districts after the effective date of this
ordinance in order to create a special fund to pay the principal of and interest on loans,
moneys advanced to or indebtedness,including bonds proposed to be issued by the City
of Waukee to fmance projects in such area.
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Section 2.Definitions.For use within this ordinance the following terms
shall have the following meanings:
"City"shall mean the City of Waukee,Iowa.
"County"shall mean the County of Dallas,Iowa.
"Urban Renewal Area Amendment"shall mean the R-22 Addition to the Waukee
Urban Renewal Area of the City of Waukee,Iowa,the boundaries of which are set out
below,approved by the City Council by resolution adopted on the 21st day of April,
2003:
A tract ofland in parts of Sections 5,6,and 8,Township 78 North,
Range 26 West of the 5th Principal Meridian,Dallas County,Iowa,
currently existing by easement or right-of-way and referred to as County Road
R-22 and Ute Avenue,with said tract ofland being south of300th
Street and North of Interstate 80,as previously described in Book 442,
page 496 of Dallas County Recorder's office.
Section 3.Provisions for Division of Taxes Levied on Taxable Property in the I
Urban Renewal Area Amendment.After the effective date of this ordinance,the taxes
levied on the taxable property in the Urban Renewal Area Amendment each year by and
for the benefit of the State of Iowa,the City,the County and any school district or other
taxing district in which the Urban Renewal Area Amendment is located,shall be divided
as follows:
(a)that portion of the taxes which would be produced by the rate at which the
tax is levied each year by or for each of the taxing districts upon the total sum of the
assessed value of the taxable property in the Urban Renewal Area Amendment,as shown
on the assessment roll as of January 1 of the calendar year preceding the first calendar
year in which the City certifies to the County Auditor the amount of loans,advances,
indebtedness,or bonds payable from the special fund referred to in paragraph (b)below,
shall be allocated to and when collected be paid into the fund for the respective taxing
district as taxes by or for said taxing district into which all other property taxes are paid.
For the purpose of allocating taxes levied by or for any taxing district which did not
include the territory in the Urban Renewal Area Amendment on the effective date of this
ordinance,but to which the territory has been annexed or otherwise included after the
effective date,the assessment roll applicable to property in the annexed territory as of
January 1 of the calendar year preceding the effective date of the ordinance which
amends the plan for the Urban Renewal Area Amendment to include the annexed area,
shall be used in determining the assessed valuation of the taxable property in the annexed
area.
(b)that portion of the taxes each year in excess of such amounts shall be
allocated to and when collected be paid into a special fund of the City to pay the principal
of and interest on loans,moneys advanced to or indebtedness,whether funded,refunded,
assumed or otherwise,including bonds issued under the authority of Section 403.9(1),of
the Code of Iowa,incurred by the City to finance or ref mance,in whole or in part,
projects in the Urban Renewal Area Amendment,except that taxes for the payment of
bonds and interest of each taxing district shall be collected against all taxable property
within the taxing district without limitation by the provisions of this ordinance.Unless
and until the total assessed valuation of the taxable property in the Urban Renewal Area
Amendment exceeds the total assessed value of the taxable property in such area as
shown by the assessment roll referred to in subsection (a)of this section,all of the taxes
levied and collected upon the taxable property in the Urban Renewal Area Amendment
shall be paid into the funds for the respective taxing districts as taxes by or for said taxing
districts in the same manner as all other property taxes.When such loans,advances,
indebtedness,and bonds,if any,and interest thereon,have been paid,all money thereafter
received from taxes upon the taxable property in the Urban Renewal Area Amendment
shall be paid into the funds for the respective taxing districts in the same manner as taxes
on all other property.
(c)the portion of taxes mentioned in subsection (b)of this section and the
special fund into which that portion shall be paid may be irrevocably pledged by the City
for the payment of the principal and interest on loans,advances,bonds issued under the
authority of Section 403.9(1)of the Code ofIowa,or indebtedness incurred by the City to
finance or refinance in whole or in part projects in the Urban Renewal Area Amendment.
(d)as used in this section,the word "taxes"includes,but is not limited to,all
levies on an ad valorem basis upon land or real property.,I
Section 4.Repealer.All ordinances or parts of ordinances in conflict with the
provisions of this ordinance are hereby repealed.
Section 5.Saving Clause.If any section,provision,or part of this ordinance
shall be adjudged invalid or unconstitutional,such adjudication shall not affect the
validity of the ordinance as a whole or any section,provision or part thereof not adjudged
invalid or unconstitutional.
Section 6.Effective Date.This ordinance shall be effective after its final
passage,approval and posting as provided by law.
Passed by the Council of the City of Waukee,Iowa,the 19th day of May,2003.
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